The time has come to recruit the inaugural chair of the new Canadian Sustainability Standards Board (CSSB) following the June 2022 announcement about its formation. The call for applicants for this forward-looking leadership role highlights the need to operate in a challenging and dynamic environment.
The CSSB will work to ensure sustainability disclosures are standardized in Canada by working to develop and support the adoption of IFRS® Sustainability Disclosure Standards, and consider the Canadian context in assessing their relevancy.
The CSSB Chair will be appointed by the Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC).
“We are looking for a visible and experienced leader in the sustainability reporting community as we launch the CSSB, to support recruitment of board members and establish the CSSB’s first multi-year strategic plan in their initial months in the role,” says Kevin Nye, AASOC Chair.
Independently set sustainability disclosure standards are critical to building and promoting confidence in sustainability reporting. They will contribute to the quality information reported and assured in Canada, further supporting informed decision making.
“Collaboration between the CSSB and Canada’s existing standard-setting boards will also be paramount,” says Lorraine Moore, AcSOC Chair. “Working collaboratively with these boards is critical. We want to ensure the broad spectrum of those affected by CSSB standards are supported on their journey to sustainability reporting. The goal is to adopt the standards for sustainability reporting, to augment existing measurements, and to help support the legal frameworks that are under development in Canada.”
The CSSB is currently in the early stages of development, supported by an implementation committee. The committee is working to establish the CSSB, including the recruitment process for the chair and board members, and defining the governance and process-related considerations for the new board.
The CSSB Chair is a part-time, remunerated position requiring a commitment of approximately 1200 to 1500 hours per year. The Chair will likely be appointed for an initial three-year term, with the possibility of extension.
The CSSB aims to be operational by April 1, 2023, with recruitment of its Chair a first step towards this key goal. Following closely will be a call for CSSB members in November 2022.